Asking office rents stalled in August at an average of $38.72 per square foot across the 50 largest U.S. office markets surveyed by Commercial Edge in a recent report, with national average values increasing just $0.10 over July figures.
Full-service equivalent listing rate averages for the markets Commercial Edge ranks ranged between $21.93 per square foot and $83.91 per square foot in August, with the highest year-over-year increase recorded in Tampa at 13.1% growth. Listing rents in Los Angeles followed at $41.42 per square foot, a 6.6% increase year-over-year.
On the flip side, office space asking rents in Seattle averaged $36.01 per square foot last month, a 1.5% year-over-year decrease, followed by San Francisco ($69.33 per square foot and a 1% decline) and Houston (which logged a 0.4% year over year increase to $30.29 per square foot).
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